Silvercorp Q2 Production 292.468K Tons Ore Mined

Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM) (NYSE:SVM) reports production and sales figures for the second quarter of fiscal year 2022 ended September 30, 2021 ("Q2 Fiscal

Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM) (NYSE:SVM) reports production and sales figures for the second quarter of fiscal year 2022 ended September 30, 2021 (“Q2 Fiscal 2022”). The Company expects to release its Q2 Fiscal 2022 unaudited financial results on Thursday, November 4, 2021 after market close.

In Q2 Fiscal 2022, the Company increased production to approximately 1.7 million ounces of silver, 800 ounces of gold, 17.6 million pounds of lead, and 7.5 million pounds of zinc, representing increases of 15%, 11%, and 4%, respectively, in silver, lead and zinc, and a decrease of 20% in gold over the first quarter ended June 30, 2021 (“Q1 Fiscal 2022”). At the Ying Mining District, ore mined in Q2 Fiscal 2022 was 206,933 tonnes, up 64,026 tonnes or 45% over Q1 Fiscal 2022. Ore milled was 182,173 tonnes, up 26,766 tonnes or 17% over Q1 Fiscal 2022, but 24,760 tonnes lower than mined as a result of transportation interruptions caused by lengthy heavy rains in Q2 Fiscal 2022. The Company expects to maintain a similar mining production rate and increase the milling tonnage at the Ying Mining District in the next quarter.

For the first six months of Fiscal 2022, the Company produced approximately 3.2 million ounces of silver, 1,800 ounces of gold, 33.5 million pounds of lead, and 14.7 million pounds of zinc. The Company is on track to meet its annual guidance to produce between 6.3 – 6.6 million ounces of silver, 65.7 – 68.9 million pounds of lead, and 26.9 – 28.5 million pounds of zinc in Fiscal 2022.

Q2 FISCAL 2022 OPERATING HIGHLIGHTS 

  • At the Ying Mining District, ore mined was 206,933 tonnes, up 14% over the same prior year quarter (“Q2 Fiscal 2021”), and ore milled was 182,173 tonnes, up 2% over Q2 Fiscal 2021. Approximately 1.5 million ounces of silver, 800 ounces of gold, 14.7 million pounds of lead, and 1.6 million pounds of zinc were produced, representing decreases of 1% in silver, 27% in gold, 9% in lead, and 4% in zinc over Q2 Fiscal 2021 as 24,760 tonnes or 12% of ore mined in the current quarter have yet to be processed due to the heavy rains.
  •  

  • At the GC Mine, ore mined was 85,535 tonnes, down 1% over Q2 Fiscal 2021, and ore milled was 89,643 tonnes, up 6% over Q2 Fiscal 2021. Approximately 179 thousand ounces of silver, 2.9 million pounds of lead, and 5.9 million pounds of zinc were produced, representing an increase of 7% in zinc, and decreases of 2% in silver and 2% in lead over Q2 Fiscal 2021.
  •  

  • On a consolidated basis, ore mined was 292,468 tonnes, up 9% over Q2 Fiscal 2021, and ore milled was 271,816 tonnes, up 3% over Q1 Fiscal 2021. Approximately 1.7 million ounces of silver, 800 ounces of gold, 17.6 million pounds of lead, and 7.5 million pounds of zinc were produced, representing decreases of 1%, 27%, and 8%, respectively, in silver, gold and lead, and an increase of 5% in zinc over Q2 Fiscal 2021.
  •  

  • On a consolidated basis, the Company sold approximately 1.7 million ounces of silver, 800 ounces of gold, 17.3 million pounds of lead, and 7.6 million pounds of zinc, representing decreases of 1%, 64%, and 7%, respectively, in silver, gold and lead sold, and an increase of 3% in lead sold over Q2 Fiscal 2021. Gold sold in Q2 Fiscal 2021 included 1,200 ounces from the BYP Mine.

The consolidated operational results for the past five quarters are summarized as follows:

Consolidated

Q2 F2022

Q1 F2022

Q4 F2021

Q3 F2021

Q2 F2021

 

Six months ended September 30,

 

 September 30, 2021 

 June 30, 2021 

 March 31, 2021 

 December 31, 2020 

 September 30, 2020 

 

2021

2020

                 

Production Data 

               

 

Ore Mined (tonne)  

292,468

231,235

163,072

279,445

267,853

 

523,703

522,408

 

Ore Milled (tonne) 

271,816

243,077

180,674

260,648

263,933

 

514,893

526,259

                 

 

Head Grades

               

 

Silver (gram/tonne)

214

207

228

216

221

 

211

225

 

Lead (%)

3.2

3.2

3.3

3.2

3.5

 

3.2

3.6

 

Zinc (%)

1.6

1.7

1.5

1.8

1.6

 

1.6

1.6

                 

 

Recovery Rates 

               

 

Silver (%) 

94.1

93.2

92.5

92.3

93.0

 

93.7

93.1

 

Lead (%) 

94.5

94.6

94.3

95.3

94.9

 

94.5

95.1

 

Zinc (%)

79.3

80.7

79.0

82.4

78.0

 

79.9

78.9

                 

Metal production 

               

 

Silver (in thousands of ounces)

1,696

1,474

1,195

1,676

1,707

 

3,169

3,459

 

Gold (in thousands of ounces)

0.8

1.0

0.3

0.9

1.1

 

1.8

2.2

 

Lead (in thousands of pounds)

17,613

15,878

12,156

17,111

19,086

 

33,491

39,163

 

Zinc (in thousands of pounds)

7,483

7,198

4,672

8,673

7,133

 

14,681

14,666

                 

Metals sold 

               

 

Silver (in thousands of ounces)

1,729

1,642

1,056

1,647

1,740

 

3,371

3,612

 

Gold  (in thousands of ounces)

0.8

1.0

0.7

0.8

2.2

 

1.8

3.3

 

Lead (in thousands of pounds)

17,319

16,810

10,876

16,806

18,551

 

34,129

39,436

Zinc  (in thousands of pounds)

7,626

7,255

4,580

8,965

7,411

 

14,881

14,369

The operational results at the Ying Mining District for the past five quarters are summarized as follows: 

Ying Mining District

Q2 F2022

Q1 F2022

Q4 F2021

Q3 F2021

Q2 F2021

 

Six months ended September 30,

 

 September 30, 2021 

 June 30, 2021 

 March 31, 2021 

 December 31, 2020 

 September 30, 2020 

 

2021

2020

                 

Production Data 

               

 

Ore Mined (tonne)  

206,933

142,907

112,561

182,268

181,020

 

349,840

355,196

 

Ore Milled (tonne) 

182,173

155,407

131,725

162,905

179,083

 

337,580

356,772

                 

 

Head Grades 

               

Silver (gram/tonne) 

283

279

280

297

288

 

281

290

 

Lead (%) 

4.0

4.2

3.9

4.3

4.4

 

4.1

4.5

 

Zinc (%) 

0.7

0.8

0.8

0.8

0.7

 

0.8

0.8

                 

 

Recovery Rates 

               

 

Silver (%)  

95.4

94.7

93.7

93.9

94.4

 

95.1

94.6

 

Lead (%) 

95.5

95.7

95.1

96.4

96.1

 

95.6

96.1

 

Zinc (%) 

56.0

59.7

65.0

63.3

57.9

 

57.8

60.9

                 

Metal production 

               

 

Silver (in thousands of ounces) 

1,517

1,283

1,083

1,464

1,525

 

2,800

3,068

 

Gold (in thousands of ounces) 

0.8

1.0

0.3

0.9

1.1

 

1.8

2.2

 

Lead (in thousands of pounds) 

14,671

13,278

10,504

14,361

16,080

 

27,949

33,021

 

Zinc (in thousands of pounds) 

1,584

1,519

1,496

1,857

1,643

 

3,103

3,563

                 

Metals sold 

               

 

Silver (in thousands of ounces) 

1,553

1,447

936

1,446

1,556

 

3,000

3,228

 

Gold (in thousands of ounces) 

0.8

1.0

0.7

0.8

1.0

 

1.8

2.1

 

Lead (in thousands of pounds) 

14,436

14,175

9,137

14,207

15,585

 

28,611

33,364

Zinc  (in thousands of pounds) 

1,617

1,521

1,306

2,241

1,384

 

3,138

3,421

The operational results at the GC Mine for the past five quarters are summarized as follows:

GC Mine

Q2 F2022

Q1 F2022

Q4 F2021

Q3 F2021

Q2 F2021

 

Six months ended September 30,

 

 September 30, 2021 

 June 30, 2021 

 March 31, 2021 

 December 31, 2020 

 September 30, 2020 

 

2021

2020

                 

Production Data 

               

 

Ore Mined (tonne)  

85,535

88,328

50,511

97,177

86,833

 

173,863

167,212

 

Ore Milled (tonne) 

89,643

87,670

48,949

97,743

84,850

 

177,313

169,487

                 

 

Head Grades 

               

 

Silver (gram/tonne) 

73

80

87

82

81

 

77

87

 

Lead (%) 

1.7

1.5

1.7

1.4

1.8

 

1.6

1.8

 

Zinc (%) 

3.3

3.3

3.3

3.5

3.4

 

3.3

3.4

                 

 

Recovery Rates 

               

 

Silver (%)  

84.4

84.1

81.9

82.6

82.5

 

84.2

82.7

 

Lead (%) 

89.5

89.3

89.7

89.6

89.2

 

89.4

89.5

 

Zinc (%) 

89.6

89.3

88.2

89.7

87.3

 

89.5

87.3

                 

Metal production 

               

 

Silver (in thousands of ounces) 

179

190

112

212

182

 

369

391

 

Lead (in thousands of pounds) 

2,942

2,600

1,652

2,750

3,006

 

5,542

6,142

 

Zinc (in thousands of pounds) 

5,899

5,679

3,176

6,816

5,490

 

11,578

11,103

                 

Metals sold 

               

 

Silver (in thousands of ounces) 

176

195

120

201

184

 

371

384

 

Lead (in thousands of pounds) 

2,883

2,635

1,739

2,599

2,966

 

5,518

6,072

Zinc (in thousands of pounds) 

6,009

5,734

3,274

6,724

6,027

 

11,743

10,948

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